1. only income
   only assets
2. neither

Neither income nor assets is used to determine eligibility for unemployment. Even millionaires may be eligible for unemployment benefits and many do collect.

1. 10 percent
   20 percent
2. 40 percent

Some 40 percent of Americans spend more than they make.

1. a loan from your employer
   a cash advance against your paycheck
2. a loan due on your payday

To accept a payday loan you must give a post-dated check to cover the loan plus interest and fees. In return for paying high interest and finance fees, you get a cash advance against your paycheck, immediately. These loans are for times when you cannot wait for your paycheck.

1. loans without any interest
   loans without any penalty
2. loans secured by your home

These are checks written against the equity in your home. The amount of the check is added to your existing debt that is secured by your home.

1. an unrequested offer
   an offer you applied for
2. a scam or gimmick

An unsolicited offer is one you did not request. If you did not ask for it, do you really want it?

1. Internal Revenue Service
   Federal Reserve
2. Federal Deposit Insurance Corporation

The U.S. Federal Reserve established the Truth and Lending Act.

1. Creditors are now required to state all interest and fees.
   Creditors are now required to notify consumers about changes in interest and fees.
2. Both answers are correct.

Creditors are now required to state all interest and fees, and must notify consumers of any changes in their terms.

1. Creditors are looking to make a profit from you.
   Creditors are non-profit institutions.
2. Creditors are on your side.

Creditors are looking to make a profit from your debt. Make sure to read all the information, including the small print.

1. lowest
   steady
2. highest

The poverty rates in 2009 were the highest in the 51 years that poverty information has been tracked. This information is from the U.S. Census Bureau.

1. They have higher incomes.
   They are less or a risk for default.
2. They have more assets.

People who have good credit histories are less of a risk for debt default.

1. saving and paying cash
   spending and borrowing
2. living month-to-month

Saving part of your earnings and paying cash, rather than taking on debt, may give you a better financial future.

1. two months
   six months
2. nine months

Financial advisors recommend that you have at least six months or more of savings.

1. six percent
   eight percent
2. 10 percent

On average Americans save less than six percent of their income.

1. debt
   family help
2. charity assistance

Most people have to go into debt to pay for an emergency. An alarming number of bankruptcies are due to the high cost of medical emergencies.

1. lower interest rates
   increase debt
2. pay your debt

Credit counselors negotiate with your creditors, and may be able to arrange better terms for your debt.

1. A lump sum is paid for less than the debt balance.
   Some of the debt balance is forgiven.
2. Both answers are correct.

Debt settlement occurs when the creditor agrees to accept a lump sum payment that is less than what is owed and forgives the rest of the debt.

1. less than $100
   from $100s to $1,000s
2. no charge

If you hire a person to negotiate the debt settlement, the cost ranges from $100s to $1,000s.

1. poor spending habits
   health emergency
2. unemployment

Most people get into debt because of bad spending habits. Spending cash prevent you from spending more than you can afford.

1. one year
   two years
2. four years

It will take you four years.

1. Accept it.
   Be very cautious.
2. Do not accept .

Before paying any debt settlement fees, make sure you research the debt settlement company. If an offer sounds too good to be true, it may be untrue.